Thrift Plus 1 is an Oceania-based Fintech product designed to make it easier for trade unions to issue loans to educational facilities and educators for personal and professional use. It works with local banks and institutions to ensure quick data transfer, easy loan decision-making and management, and borrower profile maintenance and update.
1 Project Manager
1 Full-Stack Developer (Angular + .Net)
1 Manual QA Engineer
The product was intended to contain the profiles of the borrowers and to be used at different organizations. At first, we expected the profile creation and maintenance logic to be the same across all organizations, which would allow us to use independent data processing centers at each location, but that was not the case.
Moreover, it turned out that one prospective borrower could work for two or more organizations. This created the risk of creating duplicate profiles and could potentially lead to confusion, which has no place in the financial industry. It meant that a universal solution for profile synchronization and data transfer was needed.
We decided to create a universally accessible file repository — an external file server that contained a general profile database. With its help, every local server could easily connect to the external database and sync profile information to avoid duplication.
Thrift Plus 1 is the third project we developed for the same client, the first two being a retirement funds management solution and a loan application system. All three projects were based on the same platform, so our job was to adapt the existing solution to the client’s needs, which we successfully did by introducing the necessary loan management modules and making changes to the UI to make the product accessible even to non-specialists.
An important feature we implemented in the product was the ability to create queues based on how much money a bank could issue in one day and when the end customer could expect to get their loan. Because there were two major banks in the locality, we had to employ two different data transfer formats to fit each bank’s requirements.
Since this project shared some features with the products we developed earlier, we already knew the ropes and were able to scale the team down without losing any of the quality or attention to detail.
In addition to delivering development and testing services, we also provided training to the client’s staff — mainly to facilitate a smooth installation and maintenance process on the end user devices, which is something we’ve also done on previous projects for this client.
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The work on this project was completed in around 4 months. As always, the client was satisfied with the results of our work and has since reached out to us with new project ideas after the project was done.
Conversion of mobile app
Bounce rate decrease
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